Dogecoin – Daily Tech Analysis – September 13th, 2021


Dogecoin

Dogecoin rallied by 3.86% on Sunday. Following a 0.54% gain on Saturday, Dogecoin ended the week down by 20.47% to $0.2503.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2389 before making a move.

Steering clear of the first major support level at $0.2364, Dogecoin rallied to a late intraday high $0.2545.

Dogecoin broke through the first major resistance level at $0.2468 and the second major resistance level at $0.2526.

A late pullback, however, saw Dogecoin fall through the second major resistance level to end the day at sub-$0.2510 levels.

At the time of writing, Dogecoin was down by 0.87% to $0.2481. A bearish start to the day saw Dogecoin fall from an early morning high $0.2522 to a low $0.2473.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to move back through the $0.2479 pivot to bring the first major resistance level at $0.2569 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2545.

Barring an extended crypto rally, the first major resistance level would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.27 levels before any pullback. The second major resistance level sits at $0.2635.

Failure to move back through the $0.2479 pivot would bring the first major support level at $0.2413 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.23 levels. The second major support level at $0.2323 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2413

Pivot Level: $0.2479

First Major Resistance Level: $0.2569

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob



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